New York Life 401(k) Options Primarily Profit NYL Class Action

The complaint for this class brings suit against defendants New York Life Insurance Company, the Boards of Trustees for two of its retirement plans, and individual members of the plans’ Boards, all of whom it names as fiduciaries of the plans. The complaint alleges that “this suit is about corporate self-dealing and the prohibited transfer  Read more

The Top of the New York Life Building

Insperity 401(k) Retirement Plan Settlement

This settlement resolves a class action against Reliance Trust Company, Insperity, Inc., Insperity Holdings, Inc., and Insperity Retirement Services, LP, claiming they violated ERISA in their operation and administration of the Insperity 401(k) Plan. The lawsuit alleged the companies caused the plan to pay too much for administrative and investment services, and also that they  Read more

Rising Bar Graph on Chalkboard Titled "Retirement Plan"

L Brands 401(k) Plan Breach of Fiduciary Duty Class Action

Company retirement plans, like 401(k) plans, are governed by the Employee Retirement Income Security Act (ERISA), and those who handle them are fiduciaries, with the duties of prudence and loyalty to the participants. This class action brings suit against L Brands, Inc., L Brands Service Company, LLC, and the plan’s administrative committee, alleging that these  Read more

Rising Bar Graph on Chalkboard Titled "Retirement Plan"

Northern Trust Retirement Plan Poorly-Performing Options Class Action

Company retirement plans are governed by the Employee Retirement Income Security Act of 1974 (ERISA). This includes the Northern Trust Company Thrift-Incentive Plan. This class action brings suit against the Northern Trust Company, its Employee Benefit Administrative Committee, and the Committee’s members, alleging that they have breached their fiduciary duties under the plan.  Read more

Window with Logo and Name "Northern Trust"

Nestle 401(k) Duties of Prudence and Loyalty ERISA Class Action

The plaintiff in this case brings suit on behalf of the Nestle 401(k) Savings Plan, against Nestle USA, Inc. and its board of directors. The Employee Retirement Income Security Act (ERISA) governs company-employee retirement accounts, and the complaint alleges that those responsible for Nestle’s 401(k) plan violated their fiduciary duties of loyalty and prudence under  Read more

Hand Putting Coin in Piggybank Labeled "401(k)"

US Roche 401(k) Plan Breach of Fiduciary Duties Class Action

Now that 401(k) plans are the primary form of retirement savings in the US, participants are looking more closely at how employers and administrators manage plans. The complaint for this class action brings suit against Genentech, Inc., the US Roche DC Fiduciary Committee (or Administrative Committee), and the individual committee members, alleging that the US  Read more

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Biogen 401(k) Retirement Plan Breach of Fiduciary Duties Class Action

When companies establish 401(k) plans for their employees, the plans are governed under the Employee Retirement Income Security Act of 1974 (ERISA). Those who handle the plan are fiduciaries for it and, as such, they owe certain duties to the participants and beneficiaries. However, the fiduciaries of Biogen, Inc.’s 401(k) Savings Plan—Biogen, Inc., the Biogen,  Read more

Clock, Stairstep Pile of Coins, and Money in a Jar Labeled "Retirement"

Nvidia 401(k) Plan Breach of Fiduciary Duties Class Action

Companies appoint various parties to manage and be responsible for the 401(k) plans for their employees. These people act as fiduciaries and are required under the Employee Retirement Income and Security Act of 1974 (ERISA) to carry out the fiduciary duties of loyalty and prudence. In this class action, the complaint claims that fiduciaries of  Read more

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JPMorgan 401(k) Plan ERISA Fee Settlement

A settlement fund of $9 million is resolving a class action against JPMorgan Chase Bank, NA, JPMorgan Chase & Company, and others involved with the company’s 401(k) Savings Plan. According to the complaint, the defendants breached their fiduciary duties and engaged in transactions prohibited by the Employee Retirement Income Security Act of 1974 (ERISA) in  Read more

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Eversource 401(k) Plan Breach of Fiduciary Duties Class Action

The Eversource 401(k) plan, like most such plans, is governed by the Employee Retirement Income Security Act (ERISA). Those responsible for the plan include Eversource Energy Service, the Board of Directors of Eversource Energy Service and its members, and the Investment Management Committee and its members. The complaint for this class action contends that these  Read more

Eversource Name and Logo